Solve Advisors Blog & Syndicated Bank Loan Market Summaries

  

Syndicated Bank Loan Market Summary - Week Ending 4/19/19

Michael Pellerito, April 22, 2019

Solve Advisor's weekly loan newsletter highlights trends in the Syndicated Bank Loan market.

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Solve has aggregated and organized key trends derived from observable loan price data for the period between Friday, April 12th - Friday, April 19th.  In the tables and charts below, you'll find:

  1. Top 10 Loan Price Winners
  2. Top 10 Loan Price Losers
  3. Average Bid Price (By industry sector)
  4. Market Sentiment
  5. Top Quote Volume Movers
  6. Most Quoted Loans
  7. Bid and Offer Volume
  8. Bid Offer Spread (By industry sector)

 

TOP 10 WINNERS
Rank Loan Chg Price Price - 1W
1 TRIPLE POINT TL 8.56% 98.00 90.27
2 SMART & FINAL TL 4.96% 99.95 95.23
3 KINOVE EUR TL A2 4.74% 94.80 90.51
4 KINOVE TL A 3.95% 95.00 91.39
5 AKORN TL B 3.25% 85.27 82.59
6 JCREW TL B 2.98% 82.78 80.38
7 PACIFIC GAS AND ELECTRIC COMPANY DIP REV 2.88% 93.47 90.86
8 PATTERSON MEDICAL TL 2.54% 98.04 95.61
9 CAMPING WORLD TL B 2.32% 92.44 90.35
10 DOUGLAS HOLDING EUR TL B1 2.31% 87.83 85.85
  • Showcases the top 10 loan "winners" based on the largest bid price increases for the period between 4/12/19 - 4/19/19
TOP 10 LOSERS
Rank Loan Chg Price Price - 1W
DONCASTERS 2ND LIEN TL -45.61% 40.61 74.67
SERTA SIMMONS 2ND LIEN TL -10.38% 46.22 51.57
MALLINCKRODT TL B -4.88% 89.59 94.19
GLOBAL EAGLE ENTERTMNT TL B -3.25% 91.65 94.73
STRATEGIC MATERIALS TL -3.08% 84.00 86.67
MCS TL B -2.93% 67.38 69.41
VIP CINEMA TL -2.82% 91.49 94.14
NPC TL -2.19% 85.56 87.48
FLINT GROUP TL C -1.33% 93.49 94.75
10  ASCENA RETAIL TL B -1.13% 86.22 87.21
  • Showcases the top 10 loan "losers" based on the largest bid price decreases for the period between 4/12/19 - 4/19/19
 
 Avg Bid PX by Sector
  • Displays the average loan bid price by sector for the period between 4/12/19 - 4/19/19
    • Results are based on 5 select industry sectors, however, we offer data across 36 sectors
  
Market Sentiment - Advancers vs. Decliners
  • Reveals the percent of loans increasing in price (advancers) vs. loans decreasing in price (decliners) for the period between 4/12/19 - 4/19/19
TOP QUOTE VOLUME MOVERS: THIS WEEK vs LAST WEEK
RANK TRANCHE

PRIOR WEEK

THIS WEEK

INCREASE % INCREASE
1 ASURION TL B6 30 52 22 73%
2 ASURION TL B7 30 52 22 73%
3 ASURION TL B4 24 44 20 83%
4 AVAST SOFTWARE EUR TL B 2 16 14 700%
5 COLISEE PATRIMOINE EUR TL B 2 16 14 700%
6 HCA HEALTH TL B10 28 41 13 46%
7 HYPERION TL B 26 39 13 50%
8 IMS HEALTH TL B2 20 32 12 60%
9 HCA HEALTH TL B11 33 45 12 36%
10 GENUINE FINANCIAL TL 0 12 12 N/A
  • Exhibits the loans with the largest increase in quote volume for the week ending 4/12/19 vs. the week ending 4/19/19
MOST QUOTED LOANS
RANK TRANCHE DEALERS
1 DELL TL B 15
2 GATES GLOBAL TL B 15
3 SEADRILL PARTNERS LLC EXT TL B 15
4 REYNOLDS GROUP HOLDINGS LIMITED TL B 15
5 COOPER STANDARD TL B 15
6 BMC SOFTWARE TL B 15
7 ALLISON TRANSMISSION TL B3 15
8 INEOS FIN TL B 14
9 NRG ENERGY TL B 14
10 ZIGGO EUR TL F 14
  • Ranks the loans that were quoted by the highest number of dealers for the period between 4/12/19 - 4/19/19

 

 Bid and Offer Volume

  • Reveals the total number of quotes by bid and offer for the period between 4/12/19 - 4/19/19

 

 Sector Bid Offer Spread

  • Displays the bid-offer spread by sector between 4/12/19 - 4/19/19
    • Results are based on 5 select industry sectors, however, we offer data across 36 sectors

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If you would like to see additional information, or if you have any feedback or questions, please feel free to reach out to us at info@solveadvisors.com or 646-699-5041.